EUR/JPY Price Analysis: Outlook should turn bearish below the 200-day SMA

EUR/JPY falls off the cliff and retests the 200-day SMA near 141.80.
The next level of support emerges at the February low at 139.50.

He USD/JPY weakens further and breaks below 142.00 to touch fresh 4-week lows near 141.80 earlier in the week.

EUR/JPY breaks below the consolidation range and challenges the key 200-day SMA today at 141.77. A sustainable break of the latter would open the door for further weakness to initially the February low at 139.54 (10 Feb).

Below the 200-day SMA, the outlook for the cross is expected to turn negative.

EUR/JPY daily chart

USD/JPY

Overview
Last price today	141.92
Today I change daily	250
today’s daily variation	-1.07
today’s daily opening	143.45

Trends
daily SMA20	143.83
daily SMA50	141.94
daily SMA100	143.1
daily SMA200	141.8

levels
previous daily high	145.11
previous daily low	143.35
Previous Weekly High	145.44
previous weekly low	143.35
Previous Monthly High	145.47
Previous monthly minimum	139.55
Fibonacci daily 38.2	144.02
Fibonacci 61.8% daily	144.44
Daily Pivot Point S1	142.83
Daily Pivot Point S2	142.21
Daily Pivot Point S3	141.07
Daily Pivot Point R1	144.59
Daily Pivot Point R2	145.73
Daily Pivot Point R3	146.35

Source: Fx Street

Joshua

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.